This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Leather is made by process of tanning from hides and skin of animals such as cattle, sheep, pigs, etc. Increasing innovation in leather goods with additional design and features is a key factor expected to drive growth of the global market over the forecast period. In addition, increasing adoption of leather goods by individuals, owing to its advantages such as dustproof, fireproof, durability, and crack proof. This is another factor expected to further fuel growth of the target market. Furthermore, growing preference towards trendy hand bags, premium wallets, and other leather products is another factor expected to boost growth of this market in the near future. Moreover, growing awareness of branded products, presence of social media to introduce various international brands such as Prada and Gucci to consumers, and individual’s preference towards easy-to-handle leather luggage bags at time of extensive travelling are other factors expected to propel growth of the target market over the forecast period.

However, limited availability of raw material, availability of synthetic alternatives such as plastic leather are key factors expected to restrain growth of the global market over the forecast period. In addition, availability of chipper leather goods in the market is expected to hamper growth of the target market in the near future.

Development of stylish leather goods at affordable price is expected to create potential revenue opportunities for players operating in the target market over the forecast period.

The market in Asia Pacific is expected to dominate the target market in terms of revenue over the forecast period, owing to rising demand for leather goods by fashion industry, especially for footwear in various countries in this region. In addition, the market in Europe is expected to register significant share in terms of revenue over the forecast period, owing to increasing preference towards leather accessories and goods by individuals in various countries in this region. Furthermore, the market in North America is expected to account for highest market share over the forecast period, owing to increasing availability of raw skin and innovative chrome tanning process in various countries in this region.

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